Three Takeaways from GAC 2024

March 18, 2024

Elan Credit Card was excited to sponsor and attend the 2024 Governmental Affairs Conference (GAC) put on by the freshly formed “America’s Credit Unions,” the merger of Credit Union National Association (CUNA) and the National Association of Federally-Insured Credit Unions (NAFCU).

From March 3–5, the Elan team was able to attend valuable sessions, connect with current partners in person, and discuss upcoming advancements, trends and needs with thousands of credit union professionals in Washington D.C.

Throughout the conference, many industry leaders took the stage to share their credit union stories and predictions. The following themes resonated with our team as the main three takeaways:

1. Liquidity and rising losses:  Continued inflation, the difficulty to raise deposits, increasing fraud, and rising delinquencies and losses have credit union leaders pondering balance sheet strategies that include potential alternative approaches for their credit card products.

2. Technology:  The need to continuously invest in technology maintenance and upgrades has credit unions considering the best path forward to remain competitive and provide a meaningful experience to their members.

3. Uncertain regulatory environment:  Legal and regulatory considerations, and the cost of compliance, have credit union leaders wondering how to provide a competitive card program while remaining profitable.

Our team was also honored to attend the Ohio Credit Union League Opening Reception and the African–American Credit Union Coalition Hall of Fame Induction Ceremony.

Photo of the Elan team in front of the AACUC step and repeat banner.

Thank you to everyone who stopped by. If you were unable to visit our booth but want to learn more about our outsourced credit card program, contact our team here.

See you next year! 

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